Report highlights growing costs associated with solar energy

November 21, 2013 0 By Alicia Moore

Solar energy technologies could become costlier in 2014

Solar Energy CostsGTM Research, a leading market research firm, has released its “Global PV Pricing Outlook 2014” report. The report highlights the trends that are emerging in the global solar energy market, noting that prices for photovoltaic modules are likely to increase in 2014. The cost of solar energy has been on the decline in recent years, largely due to the inundation of new and low-cost photovoltaic modules into the global market. The gratuity of supply and the affordability of photovoltaic modules boosted the adoption of solar energy in many parts of the world.

Global supply chain is stabilizing

The report notes that the global supply chain for photovoltaic modules is beginning to stabilize. Trade conflicts and the failing of large photovoltaic manufacturers are two of the reasons behind the stabilization of the supply chain. Trade conflicts, in particular, have lead to a decrease in the production of photovoltaic modules coming from Asia. As low-cost modules become scarcer, the cost of these solar energy components are expected to increase.

9% increase in the price of photovoltaic modules predicted

The report predicts that the cost of photovoltaic modules will increase by 9% globally in 2014. Both China and Japan are expected to remain top producers of photovoltaic technologies, but prices for solar energy systems throughout Asia are expected to grow more quickly than in other parts of the world. Notably, however, this trend is expected to be restricted to 2014. The report suggests that the cost of photovoltaic modules will continue to decrease in 2015 and beyond.

Solar energy likely to remain a popular form of clean power

Solar energy has become one of the most popular forms of renewable power in the world. Rising costs of photovoltaic technology may slow the adoption of solar energy, especially in developing countries. Nevertheless, many countries have ambitious plans when it comes to solar energy and marginal increases in the cost of photovoltaic modules may not be enough to derail these plans.

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CategoryFinancial Hydrogen news Solar Energy
Tagsclean technology Global PV Pricing Outlook 2014 global solar energy market gtm research photovoltaic modules pv prices renewable energy renewable energy news renewable power report on solar energy solar energy solar energy costs solar energy market solar energy news solar energy systems

About The Author

Alicia Moore's dedication to sustainable energy products goes beyond her writing. She actively seeks out new ways to live more sustainably, and encourages others to do the same. Her commitment to eco-friendly living is evident in her daily life, and she is always looking for ways to reduce her impact on the environment. What sets Alicia apart as a writer is her ability to communicate complex topics in a way that is accessible to everyone. Her passion for renewable energy is contagious, and her writing inspires readers to consider the ways in which they can make a positive impact on the planet. Ultimately, Alicia's work is driven by a desire to create a more sustainable and equitable world, and her writing serves as a powerful tool for achieving this goal.